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Saudi Arabia

Saudi Arabia plans $147bn expansion for transport sector

Saudi officials want to turn the capital of Riyadh into a global business hub

UAE business conditions improve; employment rises

Employment rose for the first time since January and at the quickest pace in more than two years

Stuart Gulliver Aramco

Saudi Aramco appoints ex-HSBC CEO Stuart Gulliver to board

Gulliver replaces Sir Mark Moody-Stuart, who had been on the board since 2007

Saudi UAE Travel Ban

Saudi Arabia indefinitely suspends travel to UAE, Vietnam and Ethiopia

All passenger flights between the kingdom and these countries will be suspended starting 11pm on Sunday, July 4

Finance chief who steered Saudi Aramco through IPO to step down

The company is set to name Ziad Al-Murshed as chief financial officer, replacing Khalid al-Dabbagh

Standard Chartered opens first branch in Saudi Arabia

The move widens the services Standard Chartered can offer in the country

Saudi Arabia’s jobless rate drops to lowest level since 2016

The jobless rate fell to 11.7 per cent, down from 12.6 per cent in the last three months of 2020

Saudi’s Tamer Group acquires majority stake in UAE’s Mumzworld

The transaction will give Mumzworld access to a pool of capital to foster its growth

How are SMEs driving economic growth in Saudi Arabia?

At the forefront of Vision 2030, SMEs are diversifying the economy as the kingdom competes in a global arena

Saudi workers

Saudi resumes crackdown on illegal workers, residents

Nearly 5.7 million have been arrested in the campaign, which began in November 2017

Saudi wealth fund weighs new airport in Riyadh for tourism drive

The crown prince’s economic transformation plan has identified Islamic pilgrimage as a key source of non-oil revenue

Saudi developer awards facilities management contract for its coastal village

The Coastal Village area includes management offices, villas, townhouses and apartments, and a 144-room hotel

Saudi Arabia Airport

Saudi links boarding passes with health app for all domestic passengers

The application will show the passenger’s status as being immune/immune by first dose/immune by recovery/no record of infection

New giant Saudi pension fund aims to crack world’s top 10 ranks

Saudi Arabia has been taking steps to merge and restructure various entities as it looks to boost efficiency

Aramco closes $12bn pipeline deal with China, UAE backing

The subsidiary will have rights to 25 years of tariff payments for oil transported through Aramco’s crude pipeline network

Saudi destroys 17 armed drones launched by Houthis

The Houthis have been frequently targeting the kingdom with explosive-laden drones in recent weeks

Saudi Arabia to form entity with $29bn in equity holdings

The funds hold significant stakes in Saudi Arabian firms

Saudis say cautious approach to restoring OPEC+ output paid off

Crude futures are trading at a two-year high above $70 a barrel

Saudi non-oil economy rebounded to 2.9% growth in first quarter

In the first quarter, Saudi Arabia’s non-oil economy grew at its fastest pace since 2019

Saudi wealth fund makes senior hires, including Goldman banker

Goldman banker Eyas AlDossari will head investment advisory within the MENA Investments Division of the fund

Armed drone from Yemen lands on school in Saudi’s Asir

No injuries were reported in the incident

Saudi Arabian hospitality firms weigh $2.4bn merger

Assilah Investment is the top shareholder in both companies

Saudi wealth fund PIF leads investment in $800m Middle East infrastructure fund

Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries

Saudi to create new public transport project with more than 400 buses in Makkah

The bus network consists of two stages and aims to serve pilgrims and residents of Makkah

Hajj 2021

Saudi Arabia to allow only residents and citizens to attend Hajj 2021; limits number of pilgrims to 60,000

The first phase of online registrations for Hajj will be open from June 13-23

Aramco sells $6bn of dollar-denominated Islamic bonds

The state-controlled company sold sukuk due in three, five and 10 years

Saudi wealth fund appoints deputy governors to spur growth

The PIF has made several high-profile investments in recent years

Saudi Arabia Visas

Saudi to extend validity of visas until July 31 for expats stranded abroad

The extension will be done automatically and at no cost to the visa holders

Saudi Aramco

Aramco starts debut sale of dollar-denominated Islamic bonds

The firm is raising cash to help finance its plans to pay out $75bn in dividends

Saudi Aramco hires banks for debut dollar Islamic bond sale

The firm is raising cash to help fund its commitment to pay out $75bn in dividends